Canada Pension Plan Investment Board Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Canada Pension Plan Investment Board reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,630 shares of the technology company’s stock after selling 13,100 shares during the period. Canada Pension Plan Investment Board owned approximately 0.28% of The Descartes Systems Group worth $19,298,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 12.0% during the second quarter. Mackenzie Financial Corp now owns 1,532,156 shares of the technology company’s stock worth $122,721,000 after purchasing an additional 163,655 shares in the last quarter. Signaturefd LLC grew its position in The Descartes Systems Group by 47.1% during the second quarter. Signaturefd LLC now owns 550 shares of the technology company’s stock worth $44,000 after buying an additional 176 shares during the period. Scotia Capital Inc. grew its position in The Descartes Systems Group by 4.4% during the first quarter. Scotia Capital Inc. now owns 25,526 shares of the technology company’s stock worth $2,051,000 after buying an additional 1,086 shares during the period. Prospera Financial Services Inc grew its position in The Descartes Systems Group by 217.7% during the second quarter. Prospera Financial Services Inc now owns 9,556 shares of the technology company’s stock worth $765,000 after buying an additional 6,548 shares during the period. Finally, Korea Investment CORP grew its position in The Descartes Systems Group by 2.8% during the first quarter. Korea Investment CORP now owns 21,347 shares of the technology company’s stock worth $1,721,000 after buying an additional 577 shares during the period. 76.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

DSGX stock opened at $79.99 on Thursday. The company’s 50 day simple moving average is $73.61 and its 200-day simple moving average is $75.54. The firm has a market capitalization of $6.80 billion, a PE ratio of 61.06 and a beta of 1.00. The Descartes Systems Group Inc. has a 12 month low of $64.23 and a 12 month high of $82.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $143.39 million for the quarter, compared to analysts’ expectations of $139.95 million. The Descartes Systems Group had a net margin of 21.60% and a return on equity of 10.22%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on DSGX shares. Stephens upped their target price on shares of The Descartes Systems Group from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, September 7th. Royal Bank of Canada upped their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $86.00 price target on shares of The Descartes Systems Group in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Hold” and an average price target of $85.00.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.